1. The GDP deflator is also called Implicit price deflator
2. The situation where the equilibrium level of real GDP falls short of potential GDP is known as a recessionary gap. This occurs when the economy is not producing at its full capacity and unemployment is higher than the natural rate of unemployment. The recessionary gap is often associated with a contractionary phase of the business cycle and can lead to deflationary pressures in the economy.
3. The amount by which the equilibrium level of real GDP exceeds the full employment level of GDP is called - Inflationary gap.
4. Inflation refers to an increase in the general price level of goods and services in an economy over time. Deflation, on the other hand, refers to a decrease in the general price level of goods and services over time.
5. High economic growth typically leads to higher demand for goods and services, as consumers have more money to spend and businesses are able to invest more in production. This increased demand can lead to inflationary pressures, as suppliers may increase prices to take advantage of the higher demand.
2. The situation where the equilibrium level of real GDP falls short of potential GDP is known as a recessionary gap. This occurs when the economy is not producing at its full capacity and unemployment is higher than the natural rate of unemployment. The recessionary gap is often associated with a contractionary phase of the business cycle and can lead to deflationary pressures in the economy.
3. The amount by which the equilibrium level of real GDP exceeds the full employment level of GDP is called - Inflationary gap.
4. Inflation refers to an increase in the general price level of goods and services in an economy over time. Deflation, on the other hand, refers to a decrease in the general price level of goods and services over time.
5. High economic growth typically leads to higher demand for goods and services, as consumers have more money to spend and businesses are able to invest more in production. This increased demand can lead to inflationary pressures, as suppliers may increase prices to take advantage of the higher demand.
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mountain passes in News
1. Nathu La - Sikkim
2. Jalep La - Sikkim
3. Bomdi La - Arunachal Pradesh
4. Khardung La - Ladakh (Union Territory)
5. Rohtang Pass - Himachal Pradesh
6. Baralacha La - Himachal Pradesh
7. Shipki La - Himachal Pradesh
8. Zoji La - Ladakh (Union Territory)
9. Chang La - Ladakh (Union Territory)
10. Lipu Lekh Pass - Uttarakhand
11. Mana Pass - Uttarakhand
12. Niti Pass - Uttarakhand
13. Banihal Pass - Jammu and Kashmir
14. Pangong Tso Pass - Ladakh (Union Territory)
15. Sela Pass - Arunachal Pradesh
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The major rivers of India along with their origins:
1. Ganges (Ganga) - Originates from the Gangotri Glacier in the Uttarakhand state.
2. Yamuna - Originates from the Yamunotri Glacier in the Uttarakhand state.
3. Brahmaputra - Originates from the Angsi Glacier in the Tibet Autonomous Region of China.
4. Indus - Originates from the Tibetan Plateau near Lake Mansarovar in the Tibet Autonomous Region of China.
5. Godavari - Originates from the Trimbakeshwar in the Maharashtra state.
6. Krishna - Originates from the Mahabaleshwar in the Maharashtra state.
7. Cauvery (Kaveri) - Originates from the Tala Kaveri in the Karnataka state.
8. Narmada - Originates from the Amarkantak Plateau in the Madhya Pradesh state.
9. Tapti (Tapi) - Originates from the Satpura Range in the Madhya Pradesh state.
10. Mahanadi - Originates from the Sihawa in the Chhattisgarh state.
11. Sutlej - Originates from the Rakshastal near Mount Kailash in the Tibet Autonomous Region of China.
12. Beas - Originates from the Beas Kund in the Himachal Pradesh state.
13. Ravi - Originates from the Kullu Hills near Rohtang Pass in the Himachal Pradesh state.
14. Chenab - Originates from the Baralacha Pass in the Himachal Pradesh state.
15. Jhelum - Originates from the Verinag Spring in the Jammu and Kashmir region.
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Government Revises Composition Of NITI Aayog
The Government has revised the composition of NITI Aayog. Defence Minister Rajnath Singh has been included as an Ex-Officio Member along with Home Minister Amit Shah, Agriculture Minister Shivraj Singh Chouhan and Finance Minister Nirmala Sitharaman. A government Notification said the Special Invitees are Road Transport and Highways Minister Nitin Gadkari, Health Minister Jagat Prakash Nadda, Steel Minister H D Kumaraswamy, MSME Minister Jitan Ram Majhi, Panchayatiraj Minister Rajiv Ranjan Singh, Social Justice and Empowerment Minister Dr Virendra Kumar, Civil Aviation Minister K Rammohan Naidu, Tribal Affairs Minister Jual Oram, Women and Child Development Minister Annapurna Devi, Food Processing Minister Chirag Paswan and Minister for Planning Rao Inderjit Singh.
Prime Minister Narendra Modi remains the chairperson of NITI Aayog while Suman Bery will continue to hold the Vice President post. The Full Time Members are V K Saraswat, Prof. Ramesh Chand, Dr V K Paul, and Anand Virmani.
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Project PARI (Public Art of India)
It is an initiative by the Ministry of Culture, Government of India, executed by Lalit Kala Akademi and the National Gallery of Modern Art. It aims to stimulate dialogue, reflection, and inspiration, enriching India’s cultural landscape.
Featuring a diverse range of artwork inspired by traditional Indian art forms, Project
PARI includes :
1.Sculptures that explore themes such as tributes to nature
2.Ideas from Natyashastra Gandhi ji
3.Traditional Indian toys Hospitality
4.Ancient knowledge Naad (Primeval Sound)
5.Harmony of Life
6.Kalpataru (the divine tree).
Women artists play a significant role, showcasing Bharat’s NARI SHAKTI through their substantial participation in the project
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